A neighbourhood guide to investing in Asunción

The axis along Avenida Mariscal López and España concentrates offices, retail and new apartment buildings. Villa Morra and Carmelitas are among the most sought-after rental neighbourhoods, with solid yields on small units aimed at professionals and executives.

It is an area of high prices per m² and stiff competition from new builds. The opportunity usually lies in one- and two-bedroom apartments well placed relative to the workplaces, where vacancy is low.

Recoleta offers a mix of houses and apartment buildings in a central area with mature services. Manorá and Ykua Satí are upper-middle residential districts, with steady demand from families and good value retention.

These are neighbourhoods where appreciation is slower but predictable. Good for investors who prize stability and a long-term tenant over an aggressive return.

The Costanera development and the corridor along Aviadores del Chaco — anchored by the World Trade Center — is the fastest-changing part of Asunción. There are new towers, mixed-use schemes and a clear bet on rising values.

This is appreciation territory: you buy with medium-term revaluation in mind rather than immediate rent. Watch the progress of the infrastructure and the delivery timelines of the off-plan projects closely.

The historic microcentre has the capital's lowest prices per m² for established building stock, the product of decades of offices and retail migrating eastwards. Revitalisation plans come and go; whoever buys here is betting on a long cycle and has to choose block by block, favouring streets with a life of their own.